Growth-stage private equity fund research profile
Lighthouse India Fund IV is the manager’s India-focused growth-equity vehicle, targeting consumer, healthcare, specialty manufacturing and digital transformation businesses. Public evidence identifies Fund IV investments in Parsons Nutritionals, Kushal’s and Safari Industries, with Knest Manufacturing reported as a later fourth-fund investment.
At a glance
Research profile
Open a section to inspect the evidence. The first view starts with the investment point of view; the rest stays quiet until you need it.
Investment lens
Lighthouse India Fund IV uses a growth-stage private equity approach across Consumer, healthcare, specialty manufacturing, digital transformation.
Current evidence
Lighthouse Fund IV activity continued through 2025, with Knest Manufacturing reported as the sixth investment from the recently closed fourth fund; the manager’s 2026 site continues to identify Fund IV as its sole AIF.
Strategy
Growth-stage private equity
Sector focus
Consumer, healthcare, specialty manufacturing, digital transformation
AIF structure context
Indian private equity, growth, buyout and many real-asset strategies are commonly structured as Category II AIFs. Verify the specific vehicle and registration before investing.
Current signal
Lighthouse Fund IV activity continued through 2025, with Knest Manufacturing reported as the sixth investment from the recently closed fourth fund; the manager’s 2026 site continues to identify Fund IV as its sole AIF.
Investor questions
Lighthouse India Fund IV is covered in Rupeia's private equity research universe. The current public record describes the strategy as Growth-stage private equity, with a sector focus of Consumer, healthcare, specialty manufacturing, digital transformation. The profile should be read with the linked source trail and Typical route: Category II AIF context.
The profile displays only company or asset names attributable to Lighthouse India Fund IV in the reviewed public sources: Parsons Nutritionals, Kushal’s, Safari Industries, Knest Manufacturing. It does not represent a complete current portfolio unless the manager has published one.
Lighthouse Fund IV was reported at approximately US$475 million in 2024. Fund-level realised returns, DPI and TVPI are not publicly disclosed; the current manager site confirms that Fund IV is the sole managed AIF. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: Approximately US$475 million reported at the 2024 Fund IV launch; IFC’s earlier disclosure records a US$400 million target.. Public terms or access information: Growth equity for mid-market Indian businesses; final fees, carry, tenor, leverage and reserve policy are not publicly disclosed.. Current fees, minimum commitment and availability must be confirmed for the exact named vehicle in its fund documents.
The current source record names Sean Sovak (Founder and Managing Partner); Mukund Krishnaswami (Founder and Managing Partner); Sachin Bhartiya (Founder and Managing Partner); Anshul Jain (Managing Director). Verify current roles, departures, attribution and key-person provisions before relying on the team history for a new commitment.
Review entry valuation, leverage, governance rights, concentration, execution of the value-creation plan and exit timing. The current open diligence point is: Fund IV’s complete portfolio, vehicle-level fees, carry and net returns are not publicly disclosed; the four named investments are retained only where public evidence directly ties them to Fund IV or the fourth fund..
2025-06-01: Lighthouse Fund IV activity continued through 2025, with Knest Manufacturing reported as the sixth investment from the recently closed fourth fund; the manager’s 2026 site continues to identify Fund IV as its sole AIF.
Next step
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